Russia and Ukraine sign energy deal

RUSSIA / FSU POLITICS - In Brief 01 Jan 2020 by Alex Teddy
On December 31 Ukraine and Russia agreed a 5 year contract for gas transit via Ukraine. Gazprom is the Russian state gas company that signed the deal. This is a gain for both countries and another sign for optimism regarding the conflict. The deal was clinched at the 11th hour. Russia was keen to see it sealed because it does not want to lose its reputation as a reliable energy supplier. Ukraine needs money and cut price gas. Ukraine does not want to test European tolerance by disrupting gas supplies. Ukraine stands to gain USD 7 billion over the 5 years of the contract. The payment of USD 2.9 billion in damages by Russia to Ukraine a few days ago also cleared out of the way another roadblock to the deal.

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